JAKARTA - PT PP Presisi Tbk (PPRE) recorded net profit of IDR 80.21 billion throughout 2023, down 20.38% from the profit in 2022 of IDR 100.75 billion. This downturn aligned with decreases in revenue and gross profit margin.

The Financial Report 2023 quoted today (6/3) reported that PPRE booked revenue of IDR 3.4 trillion, down 6.46% from IDR 3.63 trillion in 2022. The main component was construction of IDR 3.21 trillion, followed by rents of IDR 107.48 billion, and ready-mix of IDR 80.61 billon.

For comparison, in 2022, construction segment brought in IDR 3.40 trillion of revenue, followed by rents of IDR 117.61 billion, and ready-mix of IDR 110.33 billion.

Consumers with over 10% contribution to total revenue include PT Weda Bay Nickel, PT Translingkar Kita Jaya, PT PP (Persero) Tbk (PTPP), and LMA Konsorsium.

This issuer recorded gross profit of IDR 593.56 billion, down 3.07% year-on-year (yoy) from IDR 612.38 billion. The gross profit margin was seen at 17.45%, slipping from gross profit margin in 2022 of 16.48%. (LK/ZH)